Helena weekly herald. [volume] (Helena, Mont.) 1867-1900, 1887-11-03
GEN. BUTLERS ADVICE.
A FEW FINANCIAL RULES FOR A
YOUNG MAN TO FOLLOW.

Nothing so Safe for an Investment as
Improved Real Estate-A Bit of the
Generals Experience-Marry Pru-
dent, Saving Girl.
/ think that more young men fail IN the IN
vestment of what they earn or receive than
in any other way to acquire property. The
temptations to speculation are so great, and
the desire to become suddenly rich so strong,
that believe eight out of ten, if not more, OF
young men are wrecked at the very begin
ming.
When young man has very little money
let him buy some property, preferably
piece, however small, according to his means,
of improved real estate that is paying rent.
He had better buy it when sold at auction.
under judicial sale, paying in cash what he
can giving his notes for the balance in small
sums coming due at frequently recurring in
tervas, secured by mortgage on the prop
erty and then use all his extra income in
paying up those notes 1t is always safe to
discount youv own note, and If the notes
come little too fast as soon as he gets any
thing paid his friends will aid him when
he is putting his money where it can
not be lost, and where the property is taking
care of the interest, and in very short time
he will find that he has got very consider
able investment He will become interested
in it, save his money to meet his notes, ard
he will directly come into considerable pos
session of property, and hardly know how it
came to him. That is, he will have had a
motive for saving, and will get the result of
that saving, and will not be tempted to enter
into speculations.
SAFE INVESTMENT.
Nothing is so safe for an investment as i'm
proved real estate. Nothing is likely to grow
in value faster. In the last fifty years 80 per
cent. OF all the merchants and traders in
Boston have failed In the last fifty years 80
per cent of all the business corporations have
failed or gone out of business, so that their
stock has been wiped out. In the last fifty
years all the improved real estate, on the
average, has paid its interest and taxes and
quadrupled in value. If a young mans father
can give him anything to start him in the
world, he had better invest it in that way
and let it accumulate and earn his living,
and he will be richer than if he had gone into
business Jay Gould is said to have started
from mouse trap seller to become million
aire. Assuming that to be true, he is only
one of 60, 900, 600 of people, and if any young
man thinks that he is going to initiate Jay
Gould, there are &C, ,00O, 600 of chances to one
that he won't succeed.
The ulle would lay down for young man
is never to do mean thing for money. Be
prudent and saving of your money. Be care
full to have no interest account running
against you unless you have equal or
greater interest account running in your
favor. Work diligently and you are sure of
a competency in your old age, and as early as
possible, if you can fiud a saving, prudent
girl who has been brought up by mother
who knows how to take care of house, make
a wife of her, and she will aid and not hinder
you.
4 BIT OF EXPERIENCE.
1 claim no originality in this advice, and
will relate you an incident in my own ex-
perience to illustrate it: In my earliest prac-
tice in my profession l was quite successful in
earning money, and had small balance in
the Lowell bank, at the head of which was
Mr.. James G. Carney. The bank was directly
across the hall from my office. l stepped into
the bank to deposit little money on one oc-
casion, and Mr.. Carney said to me: "Why
don't you invest your money! 'Invest,n
said l 81 have nothing to investn "Oh. yes.n
he says, ''you have quite little sum of
money, and l see that your young friends
come with your checks occasionally, evident
ly borrowing it. Now, you had better invest
it." "How can l invest itY' "Invest it in
real estate" 81 know nothing about real
estate"
"Go to the first auction and buy the
property. You cannot be much cheated in
that, because you will have to give very little
more than somebody else will be willing to
pay for it, save your money, collect your
fees, pay your notes. as they become due. See
that the property is improved property, SO
that the rent will keep down your interest ac-
csunt, and when you get any other money in
vest it in the same way, and il your notes
press upon you a little faster than you can paw
them, why, we will, when we find that is what
you are doing with your money, discount your
note and give you little more time so that you
can pay it up. This will necesstate the prompt
collection of your bills, for / know that you
would rather work and earn 500 than dun
man for it, unless you have pressing need
for it. You have not even asked for little
bill that we owe you in the bank, which
shows me that you do not promptly collect
your dues" l followed the advice and
bought a number of pieces of property in
Lowell that came to me in that way. l can
only say that l wish had been wise enough
to have continued this course through life.
| do not think | need to extend these sug-
gestions any further, because if young man
won't mind these he won't any others, and 1
cannot suggest any better ones.-Benjamin
F. Butler in New York Sun.